Hold Siyaram Silk Mills; target of Rs 2265: ICICI Direct

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

ICICI Direct's research report on Siyaram Silk Mills
Despite destocking of inventories at the dealer level (before implementation of GST), Siyaram reported healthy topline growth of 13.4% YoY to Rs 320.6 crore. On account of better product mix (higher share of premium brands), gross margins expanded 370 bps YoY to 59.8%. However, increase in processing charges (up 131 bps YoY) and other expenses (up 266 bps YoY) led to decline in EBITDA margins by 30 bps YoY to 10.3%. Subsequently absolute EBITDA increased by 10.4% YoY to Rs 33.1 crore.

Outlook

However as the stock has already run up 17% since our last update, we assign a HOLD recommendation with a target price of Rs 2265 (based on 15x FY19E EPS of Rs 151.0).

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Read More